Royal Bank of Canada (TSE:RY) Given New C$195.00 Price Target at BMO Capital Markets

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price hoisted by research analysts at BMO Capital Markets from C$165.00 to C$195.00 in a report issued on Monday,BayStreet.CA reports. BMO Capital Markets’ price objective would suggest a potential upside of 13.87% from the stock’s current price.

A number of other equities analysts have also recently weighed in on RY. Scotiabank decreased their price objective on Royal Bank of Canada from C$157.00 to C$154.00 in a report on Monday, August 19th. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating and raised their price objective for the company from C$178.00 to C$180.00 in a report on Friday. CIBC lifted their price target on Royal Bank of Canada from C$166.00 to C$167.00 in a research note on Friday, September 6th. Jefferies Financial Group decreased their price target on Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, Desjardins lifted their price target on Royal Bank of Canada from C$156.00 to C$163.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Royal Bank of Canada has a consensus rating of “Moderate Buy” and an average target price of C$165.85.

Royal Bank of Canada Price Performance

Shares of TSE:RY traded up C$0.12 on Monday, hitting C$171.25. The company’s stock had a trading volume of 522,113 shares, compared to its average volume of 4,863,120. The company has a 50-day simple moving average of C$169.28 and a 200 day simple moving average of C$155.43. Royal Bank of Canada has a 1 year low of C$115.57 and a 1 year high of C$175.04. The company has a market capitalization of C$241.46 billion, a PE ratio of 15.17, a PEG ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share for the quarter, beating analysts’ consensus estimates of C$2.95 by C$0.31. The company had revenue of C$14.63 billion for the quarter, compared to analysts’ expectations of C$14.27 billion. Royal Bank of Canada had a return on equity of 13.68% and a net margin of 28.67%. On average, equities research analysts expect that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Insider Activity at Royal Bank of Canada

In related news, Director David Ian Mckay sold 74,852 shares of Royal Bank of Canada stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of C$164.59, for a total transaction of C$12,320,115.24. Also, Senior Officer Douglas Antony Guzman sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of C$164.60, for a total value of C$1,646,000.00. Following the completion of the sale, the insider now directly owns 25 shares in the company, valued at C$4,115. This trade represents a 99.75 % decrease in their ownership of the stock. Insiders have sold 144,770 shares of company stock worth $23,959,265 over the last ninety days.

Royal Bank of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.